Financial Aid Handbook 2021 2022

Financial Aid Handbook

2021 – 2022

October 28, 2021 Page 2 of 19

Financial Aid Policies for Bard College at Simon’s Rock and Bard Academy at Simon’s Rock

I. Financial Aid

Overview 3

Office of Financial Aid, Rights and Responsibilities 4

II. Costs

Tuition, Fees, Payment 6

Satisfying Your Student Account 8

Refund Policy 9

Health Services Fee, Fee Waivers 10

Withdrawing, Leave of Absence, Part-time Students 11

Leave to Study Away 12

Academic Probation, Suspension, Dismissal, Satisfactory Academic Progress 13

III. Scholarships

Institutional Need-Based Scholarships 15

Financial Aid Appeals 16

IV. Federal Loans

Federal Direct Loans – Subsidized and Unsubsidized 17

Federal Plus Loans – Parent Loans for Undergraduate Students 17

V. Federal Programs

Pell Grant 18

Supplemental Education Opportunity Grant (SEOG) 18

Work Study Program (FWS) 18

VI. State, Local and Other Scholarships

State Awards 19

Outside Scholarships 19

Please refer to the college catalogue for additional information.

Important numbers and codes

Moira Buhr, Associate Director of Student Financial Services

https://simons-rock.edu/why-simons-rock/contact-us/offices-and-departments/financial-aid-office.php

Phone (413) 528-7297 / Fax (413) 528-7339 / E-mail [email protected]

Federal Phone Numbers and Codes

Federal Code Number (FAFSA) 009645 – www.fafsa.ed.gov – (800) 4FEDAID College Scholarship Service (Profile) Code 3795 - (844) 202-0524

https://student.collegeboard.org/css-financial-aid-profile

Academy - School & Student Services - Academy Code: 174896

https://sssandtadsfa.force.com/familyportal/FamilyLogin

Federal Perkins Loan Servicer – Heartland ECSI (888) 549-3274

Federal Direct Loans – www.studentloans.gov

National Student Loan Data System – www.nslds.ed.gov



http://www.studentloans.gov/


I. Financial Aid

Who receives financial aid?

Bard College at Simon’s Rock and Bard Academy at Simon’s Rock offer financial aid to students

from diverse geographic, ethnic and socioeconomic backgrounds. The assistance comes from a

variety of forms, including merit awards and need-based scholarships. For the College, Federal

College Work Study and Federal, State Grants and Loans are also available.

How is the amount of financial aid determined?

To be eligible for need-based aid, you must demonstrate that your family's resources are

insufficient to cover your attendance. "Need" is defined as the difference between the cost of

tuition and campus residence fee for the academic year and what is determined by the Office of

Financial Aid, based on financial information submitted, as a reasonable contribution from you

and your family. However, there are limitations, and Simon's Rock may not be able to meet the

full need of deserving students.

How and when do I apply for financial aid?

On your application, indicate that you will apply for financial aid. Plan to submit your financial

aid application materials at the same time as your admission application.

For the College: plan to file the below documents as soon after October 1st as possible.

US Citizens and Eligible Non-Citizens:

To apply for all types of financial aid you should file: Free Application for Federal Student Aid

(FAFSA) at www.fafsa.ed.gov and the College Board Profile (PROFILE) at:


International Students:

Non U.S. Citizens and non U.S. Permanent Residents must submit the Financial Aid Application and

Certification of Finances in order to qualify for need-based financial aid. These forms are available at:

www.simons-rock.edu/admission/tuition-and-financial-aid/need-based-international.php

For the Academy: plan to file the below documents by the established deadlines.

US Citizens and Eligible Non-Citizens:

To apply for financial aid you should file: Parent Financial Statement (PFS) at



International Students:

Non U.S. Citizens and non U.S. Permanent Residents must submit the International Student Financial

Aid Profile in order to qualify for need-based financial aid. This form is available at: https://simons-

rock.edu/academy/apply-to-bard-academy/financial-aid.php

http://www.simons-rock.edu/admission/tuition-and-financial-aid/need-based-international.php


https://simons-rock.edu/academy/apply-to-bard-academy/financial-aid.php

https://simons-rock.edu/academy/apply-to-bard-academy/financial-aid.php


What if the student's parents are divorced or separated?

For the College: the custodial parent (or parents) with whom the student lives most of the time

should complete the Free Application for Federal Student Aid (FAFSA) and the College Board

Profile (PROFILE). The forms should reflect only the income and assets of the custodial

household (including a step-parent).

Simon's Rock also expects reasonable financial support from the noncustodial parent. The

noncustodial Profile is available at https://student.collegeboard.org/css-financial-aid-profile and

should be completed by the noncustodial parent. Once the site is accessed, scroll down to the

section titled: Information for Divorced or Separated Parents.

For the Academy: each parent should file a Parent Financial Statement (PFS) at



.

What if the student does not have any contact with the other parent?

If you do not have contact with and do not receive support from your other parent, please submit

a letter attesting to this fact written by a non-family member such as a teacher, counselor, pastor

or family friend. The letter may be faxed to 413-528-7339 or mailed to Bard College at Simon's

Rock, Attn: Office of Financial Aid, 84 Alford Road, Great Barrington, MA 01230.

The Office of Financial Aid

The Office of Financial Aid is available to assist students and parents in affording the cost of a

Simon's Rock education. We are here to help students and parents complete the required forms

and to offer guidance on how to finance a Simon's Rock education. The Office of Financial Aid

is required to verify the income and financial information of all applicants receiving aid.

Rights and Responsibilities of Financial Aid Recipients

Rights

1) Information regarding your application for financial aid will be treated professionally

and with confidentiality by the Office of Financial Aid staff. The College FERPA

policy is listed in our catalogue.

2) If you have questions, the Office of Financial Aid will explain the analysis of your

financial aid package.

3) Information regarding how to apply for financial aid and complete the financial aid

process will be provided at your request.

4) You may request copies of your financial aid information.

5) College only: You may request that any loan be canceled prior to 60 days from the date

of disbursement.



Responsibilities

1) You or a member of your family must send the Office of Financial Aid a written report

of changes in your financial situation as soon as they occur. This includes changes in

resources (such as receipt of an outside scholarship).

2) Returning students must file for financial aid each year. You must submit all required

applications and documentation by April 8th, 2022. College students need to submit a

FAFSA and Profile. Academy students need to file a Parent Financial Statement (PFS)

at https://sssandtadsfa.force.com/familyportal/FamilyLogin 3) College only: You must make satisfactory academic progress and maintain good social

standing at the College (refer to Satisfactory Academic Progress information).

4) Academy only: You must maintain good academic standing and maintain good social

standing at the Academy (refer to Good Academic Standing).

5) College only: You must participate in loan Entrance Counseling and have a signed

master promissory note on file, before a loan disbursement can be credited to your

student account.

6) You must notify the Office of Financial Aid if you withdraw from the College or

Academy, intend to take a leave of absence, or drop to part-time status.

7) College only: You must complete Exit Counseling if you have received federal loan(s)

and you do not plan to return to Simon's Rock the following semester.

8) You must supply accurate information.

9) You must provide all required signatures.

10) New students are required to submit a signed copy of their award letter to the Office of

Financial Aid within 3 weeks following the receipt of the award letter. Returning

students are expected to accept their financial aid award on-line within 3 weeks of

receiving notification of their financial aid award. If a financial aid award is not

accepted within 3 weeks of notification, the financial aid award will be cancelled.

11) You are responsible to pay the balance due after all financial aid has been credited.



II. Costs for the Academy and College

Academy Fee Schedule FY 2021-2022

(Actual Fees)

Semester Academic Year

TUITION & FEES Full-time $22,439 $44,878

Student Activity Fee $200 $400

Student Health Insurance (Annual Cost) $2,195

Campus Health Services Fee $260 $520

Tuition Refund Plan (Estimated Annual Cost, Optional) $861

Total Tuition and Fees $22,899 $48,854

ROOM & BOARD CHARGES Campus Residence Fee $8,314 $16,628

TOTAL COMPREHENSIVE FEE $31,213 $ 65,482

OTHER FEES Enrollment Fee – (New Students Only) $500

Matriculation Fee (10th grade only) $50

Tuition Payment Plan (5 payments per semester) $50 $100

Other Course-specific Fees - Range between $25 to $100

OTHER CHARGES Writing &Thinking Workshop Fee $650

Replacement fee for lost or not returned keys (per incident) $50 per Incident

Replacement fee for lost Identification Card (per incident) $10 per Incident

Bookstore Charges - charges from MBS Bookstore Based on Texts Required for Course

Charges for Damage to Campus Property Based on Extent of Damage


College Fee Schedule FY 2021-2022 (Estimated Fees)

Semester Academic Year TUITION & FEES Full-time (12-18 credit hours per semester) $29,759 $59,518

Student Activity Fee $100 $200

Student Health Insurance (Annual Cost) $2,195

Campus Health Services Fee $260 $520

Tuition Refund Plan (Estimated Annual Cost, Optional) $1,066

Total Tuition and Fees $30,119 $63,499

ROOM & BOARD CHARGES Campus Residence Fee $8,309 $16,618

TOTAL COMPREHENSIVE FEE $38,428 $80,117

PER CREDIT CHARGES Part-time per credit (also applies to Thesis I & II rate as a part-time student) $2,480

Over 18 credits charge per credit (40% of p/t per credit fee) $992

Independent Study/Project from away per credit hour1 (50% of p/t credit fee)

(Note: Tutorials are reserved for full-time students) $1,240

Extended Campus Project per credit hour

ECP LTSA (Credit Review/Issuance Charge) per credit hour $300

ECP Summer/Intersession Internship (per credit) $300

Senior Thesis Charges (if on LTSA or if not in residence at SR)

If doing senior thesis from away

Registered for Thesis I or Thesis II as repeated course (per credit)2 $1,240

3/2 Student Thesis I and II (from away) (per course)3 $500

Visiting Student Fees4

Enroll in a single course - fee per credit (80% of part-time per credit fee)5 $1,984

Audit (per course) $300

Graded but not for credit6 $992

OTHER FEES Enrollment Fee – (New Students Only) $500

International Student Orientation Fee (New International Students Only) $300

Writing &Thinking Workshop Fee $650

Tuition Payment Plan (5 payments per semester) $50 $100

Readmission Fee $75

Senior Thesis Workshop Fee $250

Leave to Study Away (LTSA) Fee $500 $1,000

Graduation Fee $150

Other Course-specific Fees - Range between $25 to $100

OTHER CHARGES Replacement fee for lost or not returned keys (per incident) $50 per Incident

Replacement fee for lost Identification Card (per incident) $10 per Incident

Bookstore Charges - charges from MBS Bookstore Based on Texts Required for Course

Charges for Damage to Campus Property Based on Extent of Damage ________________________________________________________________________________________________________________________________________________ 1 This applies to students who are away from campus & take a course with a faculty member from afar (e.g., summer study) 2 Applies to students who are only taking thesis (no other SR classes) and repeating the course(s) 3 Applies to students enrolled full-time at another institution as part of a SR 3/2 program - while completing the Thesis with SR

faculty 4 Visiting students are not full-time and are not degree-pursuing 5 Does not include any academic advising; not eligible for financial aid; no athletic center membership 6 Student will be issued a grade but no credit earned


Satisfying the Student Account at Simon's Rock

1) Be sure to complete the below within 3 weeks of being notified of your financial aid

award. This will ensure that all funds offered are paid to the student account. Failure to

do so may result in the cancellation of the award.

a. New students: Award Letter signed by parent and student – decline any funds you do not

wish to accept. Returning students accept your award on-line.

College only:

b. Federal Direct Loan - Entrance Interview and Master Promissory Note complete on

line at: www.studentloans.gov

c. Federal 1040 Tax Returns – IRS Data Retrieval through FAFSA or order IRS

Transcript www.irs.gov

d. Federal Verification Worksheet, if enclosed or not previously submitted

2) Submit your enrollment fee to the Office of Admissions – new incoming students only.

Simon’s Rock offers two Tuition Payment Plans, which allow families to make

monthly payments for Tuition, Student Activities Fee, and Campus Residence Fee

charges only. These payment plans consist of a 5-payment plan per semester, and

a 2-payment plan per semester.

With the 5-payment plan, monthly payments are due from June through October for the

fall semester charges, and are due from November through March for the spring

semester charges. There is a $50.00 charge per semester for this 5-payment plan.

With the 2-payment plan, payments are due in June and July for the fall Semester

charges, and are due in November and December for the spring semester charges.

3) College only: if the amount due (per semester) seems to be more than can be paid over

the course of five (5) months, consider a private loan. You may also consider a Federal

Direct Plus Loan, a loan taken by a parent on behalf of the student. Should you choose

to borrow through this loan program, please contact the Office of Financial Aid. More

information on Parent Plus Loans can be obtained at: www.studentloans.gov



Enrollment at Bard College at Simon’s Rock or Bard Academy at Simon’s Rock

is acceptance of the following policy:

As a parent/guardian of an enrolled student at Bard College at Simon’s Rock or Bard Academy

at Simon’s Rock, I accept the Bard College at Simon’s Rock or Bard Academy at Simon’s Rock

tuition and fees according to the schedule outlined above. I also agree to pay any additional

charges incurred, such as bookstore charges and lab fees. I understand that failure to pay the

balance due will result in the withholding of academic transcripts as well as suspension

from the College or Academy. Accounts not paid as due, are subject to monthly Finance

Charges at a minimum of $75 or 1.5% of the outstanding balance. If the College or Academy is

required to use the services of a collection agency to receive payment on a past due balance, a

collection fee of 33.3% will be added to the past due balance.

Bard College at Simon's Rock and Bard Academy at Simon’s Rock Refund Policy

No refund of fees will be made in the event a student withdraws from the College or Academy

after registration except as stated below. In no event is the enrollment fee refunded.

If a withdrawal occurs:

• Prior to arrival day: the enrollment fee is retained. All other charges are refunded.

• Within the first week after classes begin: 80% of tuition and campus residence fee is refunded.

• Within two weeks after classes begin: 60% of tuition and campus residence fee is refunded.

• Within four weeks after classes begin: 30% of tuition and campus residence fee is refunded.

• After four weeks: no refund is made.

• No refund is made in the case of suspension or expulsion.

The College or Academy offers tuition insurance provided by A.W.G. Dewar, Inc. Information

describing this plan will be mailed to you by the Business Office.

The Office of Academic Affairs must be informed in writing of a student's withdrawal. The

Business Office must approve the refund, determined from the date of notification of withdrawal

before it is issued.

Adjustments in financial aid awards for students who withdraw will be determined according to

the following procedures. Any institution grants or scholarships will be prorated based on the

weeks that the student is in school. College students receiving federal student aid will have their

federal aid adjusted based on a formula prescribed by federal regulations. A student who is

considering withdrawal may wish to confer with the Business Office and Office of Financial Aid

concerning anticipated refunds.


.

Health Services Fee

The Commonwealth of Massachusetts requires all students attending college in the State to

obtain student health insurance with certain mandatory coverage. We have contracted with an

insurance company that provides the coverage to all students at Simon’s Rock. The health

services fee is billed in full the beginning of the fall semester. Participation in this program is

required of all College and Academy students regardless of health coverage their family may

have.* A brochure describing the policy will be sent to you separately.

*Day students living within a certain mile distance from campus and students with MassHealth

may be excluded from this requirement. Check in with the Business Office.

Transfer Application Fee Waivers

Fee waivers for transfer and graduate school applications are available to students based on

financial need. To be eligible, a student must meet at least one of the following indicators of

need:

Student is Pell Grant-eligible

Student is a ward of the state

Student previously or currently resides in a foster home.

Student is homeless.

Family income is at or below the 2021 Poverty Guidelines

Please request forms from the Office of Financial Aid. A maximum of four fee waivers per

student will be granted.


Financial Aid Implications for Students Withdrawing or

Becoming a Part-Time Student

Withdrawing from Bard College at Simon’s Rock or Bard Academy at Simon’s Rock may have

financial aid consequences. College students becoming part-time students, may also have

financial aid consequences. Students considering such actions should visit the Office of Financial

Aid before finalizing their plans. Students who withdraw are required to visit the office. Some of

the issues to be considered are the following:

1) Refunds: All students who withdraw during a semester are charged tuition and campus

residence fee less any refund according to the policy referred to in the handbook. If a

financial aid student is scheduled to receive a refund, all or part of that refund may be

used to reimburse the financial aid programs from which the student received funds.

2) Eligibility: Students are eligible for a limited number of semesters of financial aid.

Some of these may be used up by withdrawing from the College or Academy.

3) Outside Agencies: Students may lose a source of financial assistance by withdrawing

from the College or Academy. If those students return to Simon's Rock, they will be

required to provide those funds from their own resources.

4) College only: Loan Repayments: Federal Stafford Loans, Federal Direct Loans and

Perkins Loans go into repayment status either six or nine months from the date of

withdrawal. If the student re-enrolls at Simon's Rock or another approved post-

secondary institution the loan can be deferred. The student must notify the lending

agency of their resumed student status or payments will be required. In certain leaves of

absence, loans also go into repayment status.

5) Institutional Scholarships: When a student withdraws from the College or Academy, all

awarded scholarships may not be reinstated if a student decides to return.

6) Student Accounts: When a student withdraws, depending on the timeframe, a portion of

the charges may be canceled. However, similar portions of any financial aid may also

be canceled depending on federal, state, or institutional regulations. Students are

responsible for their accounts even though they may withdraw. Check with the Office

of Financial Aid or the Business Office for more information.

7) Simon's Rock does not award institutional funds to part-time students. However,

federal aid may be available to a part-time College students.


College Only: Leave to Study Away at Another Accredited (Host) Institution

and Extended Campus Projects

Simon’s Rock institutional scholarships are not available for students attending other accredited

institutions, with the exception of the Rodney Christopher Scholarship. However, students may

apply for Federal Title IV Financial Aid (Federal Direct Loans, Federal Direct Plus Loans,

Supplemental Grants, Pell Grants).

In addition to the regular financial aid requirements (completed FAFSA, etc.) students wishing to

receive aid for these programs must:

1) Have a leave to study away at an accredited host institution approved by the Office of

Academic Affairs.*

2) Submit verification of enrollment from the host institution (registration

information/acceptance letter from host institution) to the Office of Financial Aid.

3) The host institution must complete and return a Bard College at Simon’s Rock

Consortium Agreement, this can be obtained from the Office of Financial Aid.

All funds received for this period will be credited to the student's account at Simon's Rock. These

funds will then be disbursed to the student, parent, or the Host Institution after all financial aid

requirements have been satisfied. It is the responsibility of the student to notify the Office of

Financial Aid to whom these funds should be sent.

If a leave to study away is taken to allow the student to pursue an Extended Campus Project,

such as study at a non-accredited institution, for which program Simon's Rock will award credits,

the College will charge the student a per credit fee. Federal Title IV aid may be available to

cover the cost of the credits. Please check with the Office of Financial Aid.

*You must have moderated and been accepted into the Simon's Rock BA program in order for a

Leave to Study Away to be approved.


College Only: Academic Standing, Academic Probation, Suspension, Dismissal

To maintain Good Academic Standing, students must maintain a cumulative GPA of 2.0 or higher and

complete a minimum of 24 credits during each academic year.

Academic Probation: Students whose semester and cumulative GPAs are between 1.5 and 1.9 are placed on

Academic Probation and are encouraged to make use of additional supports to improve their performance. A

student who achieves a semester GPA and cumulative GPA of 2.0 or higher by the end of a semester on

Academic Probation will be automatically restored to good academic standing. If a student fails to achieve

good academic standing after a semester on Academic Probation, the Deans will consult with the student’s

instructors and advisor to determine whether the student should continue at Simon’s Rock and, if so, under

what conditions.

Academic Suspension: Students who earn a semester and cumulative GPA below 1.5 are liable for

suspension. Suspended students are encouraged to take time to address the issues that have prevented their

academic success, and they may not enroll in Simon’s Rock classes in the subsequent semester. Suspension

requires at least a one-semester separation from the College. After one semester on academic suspension,

students are entitled to apply for Readmission. To be readmitted, they should involve themselves in activities

that enhance study skills, self-discipline, and the ability to work within a structured academic setting.

Suspended students who are readmitted to the College following suspension are not eligible to receive

financial aid from the College until good academic standing has been reattained.

College Only: Satisfactory Academic Progress

To maintain eligibility for federal financial aid, students must make Satisfactory Academic Progress (SAP) in

accordance with federal, state, and Simon's Rock guidelines. Satisfactory academic progress means that

students must annually achieve at least a grade of C (2.0) grade point average and accumulate credits toward a

degree according to the following schedule:

Academic years completed 1 2 3 4

Credits successfully completed 24 48 72 96

There is a maximum time frame of 6 years or 180 earned credits, for students pursuing their BA degree. Time

beyond that is not financial aid eligible. Students in pursuit of an AA degree are eligible for federal financial

aid for a maximum time frame of 3 years, or 90 earned credits.

The Office of Financial Aid reviews satisfactory academic progress at the end of each semester. A student

who fails to meet satisfactory progress is placed on a financial aid warning and is notified in writing. If a

student fails to meet satisfactory academic progress after the warning semester, federal financial aid is

suspended. A semester during which a student withdraws is considered a semester during which the student

has not met satisfactory academic progress.

Once eligibility is suspended, it cannot be renewed until the student has regained satisfactory progress as

defined above. Students who wish to appeal their suspension from satisfactory academic progress status must

submit a detailed letter explaining the circumstances surrounding the loss of credits and/or low GPA to the

Office of Financial Aid. All such appeals will be reviewed by Associate Director of Financial Aid in

consultation with the Dean of Academic Affairs and Dean of Students. Students are notified of the appeal

result in writing.


Academy Only: Academic Standing, Academic Probation, Suspension, Dismissal

To maintain Good Academic Standing, students must maintain a cumulative GPA of 2.0 or higher and

complete a minimum of 6 required courses each semester. For more information on Academic Standing,

consult the Academy Academic Catalogue.


III. Scholarships

Institutional Need-Based Scholarships

The evaluation of your application for a need–based scholarship takes the following into

account:

College only: Your financial need as determined by analysis of the financial data you

submit on the FAFSA and CSS/PROFILE forms

Academy only: Your financial need as determined by analysis of the financial data you

submit on the Parent Financial Statement (PFS)

Financial aid available to you from other sources.

Availability of institutional financial aid funds.

The number of students requesting these funds.

Some institutional scholarships are made possible by the generosity of specific individuals. If

this applies to any of your scholarships, you will be informed subject to the wishes of the

benefactor. In these instances, the Office of Institutional Advancement will work with you to

ensure that the donor receives personalized thanks.

Note: Outside Scholarships and State Scholarships (e.g., Veterans Benefits, awards from

organizations or companies) must be reported to the Office of Financial Aid as they are

considered part of the total financial aid award. Any outside financial assistance received may

reduce your Simon's Rock Scholarship and/or your eligibility for federal financial aid.

Renewal of need-based scholarships is contingent on the following:

1. A minimum cumulative GPA of 2.0.

2. Continuous fulltime enrollment.

3. College only: Satisfactory Academic Progress as defined in the College catalogue.

4. Academy only: Good academic standing as defined in the Academy catalogue.

5. Good social standing: behavior that results in social probation or suspension, as well as

behavior which is detrimental to the school community, may result in the withdrawal or

reduction of institutional scholarships. The social records of financial aid and

scholarship recipients are reviewed at the end of each semester.

Note:

All institutional scholarships are renewable for a total of 8 semesters. A leave to study away

semester counts towards the 8 semesters. Bard Early College Opportunity Scholarships

(ECO) may be renewed for 2 additional semesters. You must contact the Office of Financial

Aid if you want to renew your ECO scholarship for an additional semester.


Financial Aid Appeal

The Office of Financial Aid attempts to make the best decision possible using the information

provided on the financial aid application forms. Sometimes, however, a family may find that due

to changes in their financial circumstances, they are unable to afford the family contribution. If

this is the case, a family may submit an appeal to the Office of Financial Aid for reconsideration

of their financial aid award. Circumstances that affect a family's ability to contribute may

include, but are not limited to, a reduction in parental income, loss of employment, or medical

expenses not covered by insurance. If the Office of Financial Aid determines that additional

assistance is appropriate, it may offer assistance in the form of a loan, employment or

scholarship. The ability to award additional assistance is dependent upon the eligibility of the

student and the availability of aid funds.

Submitting an appeal for the upcoming academic year: If a family has new or additional

information regarding their financial circumstances, it should be submitted in writing to the

Office of Financial Aid along with applicable supporting documentation. Depending on a

family’s circumstances, the Office of Financial Aid may request additional information in the

form of documentation of monthly expenses and/or a loss of wages statement.


IV. College Only: Federal Loans

Federal loans are only available to US Citizens and Eligible Non-Citizens.

Federal Direct Loans

The Federal Direct Loan program limits borrowing to a maximum of $5,500 for first year

students, $6,500 for sophomores and $7,500 for juniors and seniors. Your loan amount may be

different than the amount indicated on your award due to the number of credits you have earned.

A minimum of 24 credit hours are necessary to be classified as a sophomore for this loan; a

minimum of 54 to be classified as a junior.

Federal Direct Loans are either Subsidized or Unsubsidized. A Subsidized Federal Direct Loan

will not be charged interest while you are in school. By accepting an Unsubsidized Federal

Direct Loan, the student is responsible for the interest which accrues while the student is in

school. It is possible to defer making payments on the interest while in school; however, the

borrower should be aware that the interest will be added to the principal balance when repayment

of the loan begins.

First-Time Borrowers

Log onto www.studentloans.gov, you will need your Pin# (or User ID and password) used for

the FAFSA. Complete the Entrance Counseling and your Master Promissory Note (MPN). No

funds will be disbursed to your student account until this has been completed.

Returning Students

If you have been awarded and accepted a Federal Direct Loan, either subsidized, unsubsidized or

both, if not completed in a subsequent year, you will be required to log onto

www.studentloans.gov. You will need your social security # and FAFSA pin# (or User ID and

password) to complete the Entrance Counseling and electronically sign a Master Promissory

Note (MPN). No funds will be released to your student account until this has been completed.

Federal Direct Plus Loans (for parents)

Through the Federal Direct Plus Loan program parents may borrow up to the entire balance that

is due to Simon's Rock. This means that parents with good credit histories will be able to secure

whatever funds are needed to cover the cost of attending Simon's Rock. Contact the Office of

Financial Aid if you would like to apply for this loan.

Exit Counseling

Student loan borrowers are required to complete Exit Counseling, before graduating, transferring

withdrawing, or leaving the College by logging onto www.studentloans.gov. Students leaving

during the semester should contact Office of Financial Aid. Student leaving at the end of the

semester will be notified with instructions.



V. College Only: Federal Programs

Federal Pell Grant

The Federal Pell Grant is based on the financial information you have supplied and guidelines of

the Federal Government.

Once applied for (this is done simply by completing the FAFSA and designating Simon's Rock

as a selected school), each applicant will receive a notice of eligibility for a Federal Pell Grant

award. This notice is known as a Student Aid Report (SAR).

No credit will be extended to your student account for this grant without a completed

Verification Worksheet and verification of data submitted on the FAFSA.

A Federal Pell Grant is a grant and, as such, requires no repayment.

Federal Supplemental Educational Opportunity Grant (SEOG)

This grant is subject to the availability of funds from the Federal Government. The award ranges

from $375-750.

No credit will be extended to your student account for this grant without a completed

Verification Worksheet and verification of data submitted on the FAFSA.

A Federal SEOG is a grant and, as such, requires no repayment.

Federal College Work Study (FWS)

Federal College Work Study (FWS) is NOT used as a credit against tuition and fees. Rather, it

indicates funds received from earnings. Work Study funds are primarily used to cover the cost of

books and personal expenses and are received on a weekly payroll after hours worked.

Although the work study program is considered a form of Financial Aid, it is the same as any

other job. That is, you will apply to various jobs available and have responsibilities for which

you will be paid at the Federal or State Minimum Wage.

To obtain a FWS position you should contact department supervisors on campus during the first

week of the semester. Typically, FWS positions are available in the Office of Admission,

Information Technology Services, Dining Hall, Kilpatrick Athletic Center, Library, Daniel Arts

Center, etc. The number of work study jobs available is limited. The likelihood of obtaining a

position is directly related to the effort and initiative you demonstrate in obtaining one of the

available openings.

You should not assume that you can work as many hours as you would like. For example, a

$1,500 FWS award will average approximately 7 hours per week while classes are in session, a

$1,000 FWS award will average approximately 3.5 hours per week while classes are in session.

In order to maintain eligibility for FWS, you must maintain satisfactory academic progress and

not be on academic probation.


VI. State, Local, and Other Scholarships

College only: State Awards

The actual amount of your state grant will be determined by the state.

Some states will give grants to students meeting eligibility criteria for their program. If found

eligible, the student will receive a document from a state agency certifying his/her eligibility. No

credit will be given on a state award until the College is in receipt of the funds from the state.

Outside Scholarships

College only: Outside scholarships are scholarships received from sources other than Simon's

Rock or any of the Federal Aid Programs. These scholarships must be reported to the College

and may reduce the amount of your Simon's Rock need based scholarships if they interfere with

your eligibility for Federal Financial Aid.

Academy only: Outside scholarships are scholarships received from sources other than Simon's

Rock must be reported to the Office of Financial aid and may reduce the amount of your Simon's

Rock need based scholarships.

Documents

Financial Aid Handbook 2021 2022